Morrison Cohen Obtains Stay and Restraining Order from Appellate Division

February 13, 2018 – Morrison Cohen Partner Christopher Milito and Senior Counsel Joaquin Ezcurra successfully blocked the enforcement of a lower court order requiring the Firm's client to deliver real property to its prior owner.  The Firm took over the representation of a bona fide bidder/purchaser after a defeat at the trial court level.  The client, who had purchased the property at a judicial sale, asked the Firm to handle an appeal to the Second Department.  The court below had held that the auction price was inadequate and invalidated the sale “in the interests of justice.” Morrison Cohen argued to the appellate court that such a ruling implied a “shocks the conscience” standard used in evaluating sales prices versus fair market value.  In demonstrating the client's likelihood of success of the merits, the Firm then argued that a price of 42% of FMV could not “shock the conscience” as a matter of law.  The reviewing justice credited the Firm's arguments and imposed both the requested stay and restraining order.  The case is proceeding under the caption Horio Realty Corp. v.  Heri, et al., Index No. 1466/2015.